Mahindra & Mahindra (M&M) has declared a restructuring of its farm equipment business in Turkey under which its arm, Erkunt Traktor Sanayi A.S. (Erkunt) will acquire the agriculture machinery business from another subsidiary, Hisarlar Makina Sanayi ve Ticaret Anonim Sirketi (Hisarlar).
On the other hand, the company will exit from Hisarlar, with its wholly-owned subsidiary, Mahindra Overseas Investment Co (Mauritius) (MOICML), together with Erkunt selling their entire stake of 94.3 per cent in Hisarlar for Turkish Lira 6.6 million (around Rs 5.6 crore) to a group of Turkish individuals.
M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.
Company Name | CMP |
---|---|
Maruti Suzuki | 12750.55 |
Mahindra & Mahindra | 2300.45 |
Mercury Metals | 75.09 |
Hindustan Motors | 38.27 |
Suzuki (India) | |
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